In the United States, several retailers, including Dow component Wal-Mart Stores (WMT, Fortune 500), released their quarterly results ahead of the bell. While Wal-Mart missed expectations, causing the big box retailer's shares to drop nearly 4%, most of its competitors fared better -- offering some signs of an economic recovery.

Shares of Netflix (NFLX) fell 3%, after cable company Comcast (CMCSA, Fortune 500) announced a new instant video streaming service.

Home Depot (HD, Fortune 500) reported fiscal fourth-quarter earnings and revenue that topped analysts' expectations. The home improvement retailer cited favorable weather, saying sales at U.S. stores open a year or more climbed 6.1%.

Macy's (M, Fortune 500) shares rose slightly after the retailer reported better-than-expected earnings and sales that were in line with forecasts.